Nigerian oil policies: some internal constraits
Journal Article
·
· J. Energy Dev.; (United States)
OSTI ID:5458062
Nigerian oil production at an average stable rate of about 2 million bbl/d during the 1970s came as a surprise to many observers who had predicted Nigerian oil output would reach 3 to 4 million bbl/d by 1976. The authors consider three possible reasons for oil production below expectations: insufficient oil reserves, membership in OPEC, and a low capacity to absorb capital efficiently. They found that oil production was not limited by availability or extraction cost, and while membership in OPEC did impose a general constraint on the production of Nigerian crude oil, the main explanation for the low-growth oil strategy must lie with constraints imposed by Nigeria's internal economy. 41 references, 4 tables.
- Research Organization:
- Paisley College of Tech., Scotland
- OSTI ID:
- 5458062
- Journal Information:
- J. Energy Dev.; (United States), Journal Name: J. Energy Dev.; (United States) Vol. 8:2; ISSN JENDD
- Country of Publication:
- United States
- Language:
- English
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